The price of Bitcoin (BTC) has risen by 2.89% to $23,578.26at 9 am Sydney time.
Bitcoin currently has a market capitalisation of $455.12billion.
Bitcoin’s closest peer Ethereum (ETH) is currently higher by 4.45%, trading at $1,642.36
Together Bitcoin and Ethereum make up almost 60% of the total cryptocurrency market.
This means that the prices for Bitcoin and Ethereum can indicate the direction of the market more broadly.